As states, municipalities, and public authorities across the nation continue to face fiscal challenges arising from the inability of traditional public financing models to meet our growing infrastructure development and maintenance needs, innovative financing tools and public-private partnerships (P3s) have grown exponentially in popularity.
Drawing upon extensive experience from both the public side and private side of the deal table, Polsinelli’s team of more than 30 project finance and P3 attorneys and professionals have been at the forefront of these projects. Polsinelli has represented project sponsors, developers, concessionaires, operators, bid teams, equity investors, lenders, contractors, transportation companies, subcontractors, advisors, public authorities, and state departments of transportation in both transportation and social infrastructure mega-projects of regional and national significance. Our attorneys and professionals are experienced in identifying, planning, structuring, negotiating, financing and documenting P3 transactions. They also understand the importance of building coalitions of early support for such projects, and are experienced in building consensus for such projects with various stakeholders, including labor groups, environmental groups, business and commercial interests, local residents, facility users, and public officials.
As a law firm of more than 800 attorneys in 19 offices, and bolstered by a sophisticated national platform and depth of experience that incorporates varied practices and diverse attorney backgrounds, Polsinelli utilizes an interdisciplinary approach to bring P3 projects to a successful conclusion. Interdisciplinary teams consisting of attorneys and public policy professionals with experience in transportation, private equity, real estate development, public finance, construction, government contracts, environmental, tax, debtor-creditor, regulatory, government affairs, and energy matters, effectively and efficiently counsel clients on the myriad of issues that arise in every type of infrastructure project, and ensure that Polsinelli delivers solutions that are timely and practical. Polsinelli attorneys have also been at the forefront of legislative development behind these projects, and understand the political and strategic issues facing every project, having successfully counseled clients from project conception to closing.
Remaining consistent with firm culture, our project finance and P3 attorneys work hard to protect clients from the unique long-term risks that can present themselves during the timeline of a matter. The group’s blended background – ranging from veterans of the financial services, private equity and capital markets industry, to former federal and state officials, to former in-house counsel – ensures that potential risks are quickly identified, mitigated, and resolved through innovative deal structures. Our attorneys also understand that not every project is the same, that P3s are evolving, and bring to the table innovative tools and ideas, such as the use of non-profit structures, alternative finance models, public-public partnerships, and alternative asset monetizations.
Our work has included guidance in structuring, entity creation (including limited liability companies, joint ventures, limited partnerships, and special purpose entities), the preparation and enactment of legislative authority, a wide variety of financing mechanisms and credit enhancements, the negotiation and documentation of architectural, engineering, and construction agreements, procurement processes, environmental cleanups, multi-party operational agreements, tax and insurance issues, and assisting in the resolution of claims through alternative dispute resolution or litigation. Polsinelli attorneys are experienced in diverse and complex projects, with extensive deal credentials in transportation infrastructure, social infrastructure, and distressed asset projects:
- Highways, roads, bridges, and tunnels
- Rail facilities
- Intermodal facilities
- Transit systems
- Sports stadiums
- Energy generation, transmission, and distribution
- Educational facilities
- Parking facilities
- Health care facilities
- Water systems
- Waste water systems
- Municipal facilities
- Public-use buildings
- Telecommunications and fiber optics
Distressed Asset Monetizations and Workouts
- Distressed public assets
- Distressed energy plants
- Distressed municipal infrastructure
- Distressed buildings
Polsinelli also brings to the forefront its extensive knowledge of state and federal tax credits, state and federal grants, TIFIA loans and lines of credit, Private Activity Bonds, and other incentives. Our attorneys strive to effectively incorporate these into the financial structure of each applicable deal, and educate clients on the business consequences of using these tools. We are also well-practiced in the use of federal renewable energy and production credits, brownfield credits, and the use of tax increment financing, tax abatement, tax sharing, and other special purpose districts.
Polsinelli has the experience, expertise, platform, professionals, resources, relationships, and creativity to make infrastructure projects and innovative financing plans a reality.